Pedro Sorrentino and his team were successful angel investors with multiple exits and technology executives and entrepreneurs when Pedro and his team decided to co-found ONEVC, a cross-border seed-stage firm based in San Francisco and São Paulo. He went from being a tech executive to starting his own company and then transitioned into angel investing and parlayed this successful track record into a $38M venture capital fund.
ONEVC’s cross-border vision means that they invest in Latin America and the US with very specific theses for both regions. The fund focuses on investing early into category-defining startups that operate in Latin America or startups outside of Silicon Valley, whether that be in Latin America, US or in Europe, that have the potential to go global.
In this episode, we cover the ONEVC investment thesis, and why they decided to invest against this thesis. We also discuss how Pedro thinks about helping companies he partners with and his advice to startup founders going into the Brazilian market. Lastly, we talk about how Latin America’s ecosystem is changing, advice to founders seeking funding from VCs, and advice Pedro would give to his younger self when he was first starting ONEVC.
This post is the fifth in a series about Latin American venture capital ecosystems. Read Chile, Colombia, Mexico and Peru.
I recently wrote about the growing business opportunities in Brazil, the fifth largest country in the world and home to one of the most tech-savvy populations in Latin America. Despite the recent political turbulence and recession, Brazilian startups are still attracting plenty of attention from investors. New government initiatives and a growing interest from foreign investors are building momentum for Brazil’s entrepreneurial ecosystem.
If you’re an investor or seeking funding opportunities for your venture, below is a brief overview of the venture capital ecosystem in Brazil.
Anjos do Brasil – Anjos do Brasil is a nonprofit founded in 2011 to help further the development of angel investment in Brazil. The organization has over 16 affiliated groups and 350 members across the entire country.
Startup Angels – Startup Angels is an international network that inspires and enables angel investors worldwide, with an office in São Paulo, Brazil’s financial capital. (more…)
Brazil is the fifth largest country by area in the world and the second most populous in the Americas behind the United States, boasting a population of more than 200 million people. This population is largely middle class and based in urban environments, which creates a consistent demand for new goods and services, despite Brazil’s roller coaster economy, high regulations, seemingly endless political scandals, high taxes, and notoriously difficult business climate.
As one of the most challenging places to do business in the world, operating a business in Brazil is no easy feat. But for companies that do take the leap, capturing a piece of this incredibly large and tech-savvy consumer base can be the ultimate prize for anyone doing business in Latin America. There are many opportunities for entrepreneurs and investors to generate Silicon Valley style returns for those who enjoy take risks and are willing to slog through Brazil’s ecosystem.
Here’s an overview of the current opportunities and challenges of doing business in Brazil today. (more…)